Tesoro Shares Fall After Earnings; Company Raises Dividend

Refiner Tesoro Corp. on Wednesday said it earned $1.46 a share on earnings of $187 million in the fourth quarter, versus 4 cents a year ago and expectations of $1.45 a share, according to FactSet. Tesoro reported revenues of $8.45 billion, compared with $10.1 billion a year ago and expectations of $9 billion. The refiner also increased its quarterly dividend by 40% to 42.5 cents a share. Shares of the San Antonio, Texas-based company fell 2.1% in after-hours trading after ending the regular session 0.9% lower.